BidaskClub downgraded shares of Otter Tail Corporation (NASDAQ:OTTR) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
Several other brokerages have also recently weighed in on OTTR. Zacks Investment Research raised Otter Tail Corporation from a sell rating to a hold rating in a report on Wednesday, July 5th. Sidoti raised Otter Tail Corporation from a neutral rating to a buy rating and set a $46.00 price objective for the company in a report on Friday, March 24th.
Shares of Otter Tail Corporation (NASDAQ OTTR) traded up 1.51% on Wednesday, hitting $40.35. The company had a trading volume of 30,508 shares. The firm has a 50-day moving average price of $40.33 and a 200 day moving average price of $38.67. Otter Tail Corporation has a 12-month low of $32.99 and a 12-month high of $42.55. The company has a market capitalization of $1.59 billion, a P/E ratio of 23.47 and a beta of 0.79.
Otter Tail Corporation (NASDAQ:OTTR) last released its quarterly earnings results on Monday, May 1st. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The business had revenue of $214.10 million during the quarter, compared to the consensus estimate of $211.80 million. Otter Tail Corporation had a return on equity of 10.15% and a net margin of 8.30%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts expect that Otter Tail Corporation will post $1.72 EPS for the current year.
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In other Otter Tail Corporation news, CFO Kevin G. Moug sold 800 shares of Otter Tail Corporation stock in a transaction on Monday, May 15th. The stock was sold at an average price of $37.25, for a total value of $29,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP boosted its position in Otter Tail Corporation by 25.3% in the first quarter. First Trust Advisors LP now owns 504,515 shares of the utilities provider’s stock worth $19,121,000 after buying an additional 101,991 shares during the period. Eqis Capital Management Inc. acquired a new position in Otter Tail Corporation during the first quarter worth approximately $277,000. Great West Life Assurance Co. Can boosted its position in Otter Tail Corporation by 456.0% in the first quarter. Great West Life Assurance Co. Can now owns 22,531 shares of the utilities provider’s stock worth $855,000 after buying an additional 18,479 shares during the period. Whittier Trust Co. boosted its position in Otter Tail Corporation by 4.8% in the first quarter. Whittier Trust Co. now owns 29,428 shares of the utilities provider’s stock worth $1,115,000 after buying an additional 1,341 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Otter Tail Corporation by 135.4% in the first quarter. Russell Investments Group Ltd. now owns 26,288 shares of the utilities provider’s stock worth $996,000 after buying an additional 15,119 shares during the period. 39.37% of the stock is owned by hedge funds and other institutional investors.
Otter Tail Corporation Company Profile
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
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